A Facebook post listing the requirements for the Hustler Fund programme by the Kenyan government is PARTLY FALSE.
The requirements in the claim are listed as follows:
1. Form a Youth or women group
2. Draft a Business Proposal
3. Produce Good Conduct Certificate
4. Share Residential Address
5. Produce signatures from 4 Guarantors, two must be your relatives
6. Sign a non disclosure agreement to serve jail term for defrauding the government if you fail to repay within 6 months
7. Open Bank account with National Bank or KCB
8. Produce KRA Pin
9. Above 18 years old
10. Holder of Kenyan ID
12. Accout must be active for at least 6 months statement
13. Individual loans will also be available.
According to the National Treasury Financial Inclusion Fund Regulation 2022 draft, the requirements for individual applicants include being 18 years of age and above and being a holder of a national identification card (ID).
Micro, small and medium enterprises, saccos and any other associations will be required to have all their members to be aged above 18 years in age and duly registered by the relevant government institution to qualify for the loans.
Any other eligibility criteria will be determined by an advisory board comprising a non-executive chairperson appointed by the President, who is expected to oversee the operations of the fund.
Co-operative and Micro, Small, and Medium...
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